然后是万事达卡，这是另一个今年跑赢大盘的新增持仓，上涨约18.14%。
And then Mastercard, another addition that's outperformed the market this year, up by about 18.14%.
现在这是一只非常不同的股票。但万事达卡你可能比较熟悉。如果我们看过去5年的市盈率倍数，平均估值大约在31.2左右。然而就在过去一年，市盈率倍数大幅下降。它从大约35、接近36的水平一路下降到2026年6月大约23.6倍的市盈率。
我们有很多可以讨论的。我可以像过去一样对万事达卡进行大量深入分析，但现实是这家公司仍然拥有一些令人难以置信的竞争优势。而且现实是，随着代理商务的兴起，我们将继续看到更多的在线交易，万事达卡将从中受益。
无论我们是否有更多的代理商务、稳定币，这些公司仍然需要欺诈预防和支付验证等服务。万事达卡已经拥有相应的基础设施。所以，我认为市场情绪对这只股票过于悲观了。我增持了万事达卡的股票，随着市盈率倍数攀升，短期内我们看到了一些反弹。
但从长期来看，这仍然是一只盈利高速增长的股票。因此，我预计盈利增长将继续推动该股走高。
Now this is a very different stock. But Mastercard you're probably somewhat familiar with. If we look at the PE multiple over the last 5 years, the average valuation was around 31.2.
Well, just in the last year, the PE multiple cratered. It went from around 35, close to 36 all the way down to roughly around 23.6 times earnings in June of 2026. There's a lot we could talk about.
We could do plenty of deep dives into Mastercard as I have in the past, but the reality is this company still has some incredible competitive advantages. And the reality is we're going to continue to see more online transactions taking place with the rise of Agentic Commerce and Mastercard is set to benefit.
Whether or not we have more Agentic Commerce, stable coins, these companies are still going to need things like fraud prevention and payment verification. Mastercard already has the infrastructure in place.
So, I think sentiment got way too low on this stock. I added shares of Mastercard and we've seen a bit of a rebound in the short term as the price to earnings multiples climbed higher.
But over the long term, this is still a stock growing earnings at a high rate. So, I expect earnings growth to continue to push this stock higher.